Nevsun Resources Ltd. (TSX:NSU / NYSE MKT:NSU) today announces its 2016 outlook guidance which includes revenues from copper, zinc and monetization of precious metal stockpiles from the Bisha Mine in Eritrea.
The Bisha Mine, operated by Nevsun’s 60 percent owned subsidiary Bisha Mining Share Company (BMSC or Bisha), remains an exceptional base metal mine with a track record of resource growth. 2016 is a transitional year as the operation moves into the primary ore body at Bisha, adding zinc concentrate production to revenues. All financial figures are in US dollars. Continue reading Nevsun Outlook Provides 2016 Production and Cost Guidance→
Nevsun was the Partnership’s featured investment in January 2015. The company remains one of the lowest risk base metal plays available, despite the painful share performance over the trailing 6 months. I met with management in mid-November and remain very positive on this story. We have lowered our average cost per share from $3.55 USD to $3.07 USD since I last wrote about the name.
Over the past 6 months, the company has reported the following milestones of note: (1) positive cash flow in Q3 despite the plunging copper price, (2) continued distribution of NSU’s $0.04 quarterly dividend, and (3) the best results at Harena to date. Continue reading Nevsun Resources (January 2016 Update)→